Salt Creek Acquires King Tester Corporation
Oct. 14, 2015
Menlo Park, California – October 14, 2015 – Salt Creek Capital is pleased to announce the acquisition of King Tester Corporation, a leading manufacturer of metallurgical testing equipment located in King of Prussia, Pennsylvania. The Company manufactures and distributes a broad line of hardness testers, microscopes and scanning devices used in a variety of industries, including the King Tester®, the number-one selling portable Brinell hardness tester worldwide.
Dan Phelps, Managing Director of Salt Creek Capital, said, “We’re excited about the King Tester acquisition and about our partnership with Jim Knight, incoming-CEO of King Tester. King has a long history of market leadership, and we look forward to working closely with Jim and the current management team to ensure a smooth transition to the company’s next phase of growth.”
Mr. Knight, who participated in Salt Creek Capital’s formal Executive Partnership Program, stated, “I am excited to partner with Salt Creek, a firm with a strong track record of investing in growing manufacturing companies, on this acquisition. I look forward to working with the team at King to continue serving our loyal customer base and further our mission of providing the most innovative products to our industry.”
About King Tester Corporation
Founded in 1955, King Tester is a manufacturer and distributor of metallurgical equipment. The Company sells a full line of metal hardness testing equipment and supplies to its customers, and is the leading supplier of portable Brinell hardness testers and microscopes worldwide. More information is available at http://www.kingtester.com.
About Salt Creek Capital
Salt Creek Capital is a San Francisco Bay Area-based private equity firm focused on executive-led buyouts of profitable companies with up to $50 million in revenue. Salt Creek takes a long-term approach to investing in lower middle market businesses and seeks to create value by working closely with management teams to accelerate growth and to improve the operating efficiency of its portfolio companies. More information is available at http://www.saltcreekcap.com.